12 October 2009
What amount of insurance is the correct amount?
Posted by articleranks under: Money .
It is definitely the main question if, as a company, you are about to go into business. if you drive a van for your living, what are the possibilities for cheaper insurance cover? How much insurance do you need? It is advisable to seek guidance on business liabilty insurance, if you are starting in a leased or rental area.
As a proprietor or director of an SME, or small to medium enterprise, it is vital that you have some insurance in place. If you have a limited company, you are required by law to have some form of Insurance for small business. The basic office insurance will cover you for a number of different liabilities, including some of the following:
1. General liability: covers any liabilities that could happen inside or outside of the office premises. It could include an accident where an employee could fall an injure themselves, or may cause injury to a member of the public.
2. Fire and theft policy cover, insures against damage sustained in a burgulary or a fire.
3. Product liability: will insure against any potential lawsuits brought against your company if a customer using your product is injured. This can also cover damage to their property as a result of using your product.
4. Personal disability insurance: will cover if you are disabled for any period of time, and will pay a monthly sum depending on the policy.
5. Business interruption: looks after the cost of temporarily changing the location of the business, due to building damage. The cover could extend to records and accounts that may have been damaged or lost.
Commercially used van insurance is more expensive than that associated with private van usage. it is due to the contents of the van and the associated high risk. However, business van insurance will cover 24 hour accident recovery, and usually supply a courtesy car if necessary.
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